thetaOwl
HomeOptionsAMZNReports

AMZN

Amazon.com, Inc.Close $246.02EOD only
Max Pain
$240.00
Next expiry Jun 17, 2026
Expected Move
±$5.13
2.1% from close
Price Gap
-6.02
Distance to max pain
IV Rank
64
High premium
P/C OI
0.65
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Jun 15, 2026 close
End-of-day snapshot

This page reflects AMZN options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Jun 15, 2026 close
AMZN Theta Report
Analysis based on market close June 16, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Short Put Credit Spread
Invalidation: Spot closes below $235 or above $256
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 VIX 16

IV Environment

IV Regime
Normal
IV vs VIX
IV 39.6% vs VIX 16.4, elevated but normal vol
Favorable?
Yes

Term structure: Front-month IV elevated due to OPEX, term structure upward sloping after 2 days

📈IV 39.6% vs VIX 16.4, elevated but normal vol
⚠️Front-month IV spikes due to event, 2d OTM put IV 94%

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+180.0M)

OI concentrations: Max pain pin at $240 for 6/17, $225 for 6/18, $240 for 6/22. Call OI wall $260-$350. No significant put OI below spot.

Verdict: Dealers long gamma, spot above max pain, bullish flow supports pin at $240.

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $235.00/$230.00 put spread
Sell $235/$230 put spread to collect premium with downside protection to $235.
Credit: $1.06-$1.30
Max loss: $3.70
BE: $233.70
Mgmt: Close at 50% profit or before OPEX.
#2
Iron condor
Sell 2026-07-17 $235.00/$230.00 put wing and $255.00/$260.00 call wing
Sell $235/$230 put and $255/$260 call wings for time decay.
Credit: $2.39-$2.92
Max loss: $2.08
BE: 232.08 / 257.92
Mgmt: Close if one side threatened or near expiration.
#3
Covered call
Buy shares + sell 2026-07-17 $255.00 call
Sell $255 call against shares to collect elevated call premium.
Credit: $4.88-$5.97
Max loss: Stock downside to $0 less call premium
BE: $240.03
Mgmt: Roll or close if stock approaches $255.

Risk Alerts

!Event risk on 6/17 OPEX with high front-month IV
!Gamma flip risk if spot drops below $235
How to Use These Reports
This theta reflects the market close on June 16, 2026.
What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.